|
Bengaluru recorded the highest year-on-year housing price growth among India's top eight cities in the first quarter of 2026, with average residential prices rising 24 per cent, according to a report released by PropTiger.
The report stated that Bengaluru emerged as the "standout performer" in Q1 2026 due to "the simultaneous achievement of peak sequential sales growth, supply-sales near parity, and the strongest YoY price appreciation nationally." Average housing prices in Bengaluru increased 24 per cent year-on-year and 3 per cent quarter-on-quarter to Rs 9,785 per sq. ft. during Q1 2026, making it the second most expensive market after Mumbai Metropolitan Region (MMR), where average prices stood at Rs 15,120 per sq. ft. The report noted that "as most cities cooled in Q1 2026, the average price growth of the city rose from 14 per cent in Q1 2025." According to the report, "The GCC and startup employment engine continues to prove more durable than conventional IT hiring cycles, providing Bengaluru with a structurally differentiated demand base that is less susceptible to sector-specific disruption." Across India's top eight cities -- Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, MMR, Pune and Delhi-NCR -- average housing prices increased between 3 per cent and 24 per cent year-on-year in Q1 2026. On a quarter-on-quarter basis, prices rose between 1 per cent and 9 per cent. "Property prices across top eight cities sustained a broad-based upcycle in Q1 2026 registering positive year-on-year appreciation underscoring the depth and resilience of underlying demand," the report said. The weighted average housing price across the eight cities crossed Rs 10,050 per sq. ft. for the first time during the quarter. The report further said that developers continued to focus on "maintaining price integrity and project viability over volume-driven liquidation," reflecting a "broadly comfortable supply-demand equilibrium." Housing sales across the top eight cities fell 2.2 per cent year-on-year to 95,973 units in Q1 2026, while supply declined marginally by 0.1 per cent to 93,065 units. On a yearly basis, housing sales increased in Bengaluru by 33 per cent, Chennai by 43 per cent, Hyderabad by 25 per cent and Delhi-NCR by 11 per cent, while sales declined in MMR, Pune, Kolkata and Ahmedabad. MMR remained the highest-selling market with 26,116 units sold, followed by Bengaluru with 15,603 units. (ANI)
|
